The rise in online shopping has put increased pressure on retailers. And it’s not just frequency that is causing challenges. The typical consumer expects real-time tracking, swift delivery and simple return options. Retailers must aim for faultless inventory management and an omnichannel customer experience to meet these expectations. 

Investing in barcode-driven inventory management can help you achieve this. 32% of retailers use systems to support their e-commerce activities that don’t interact with their other core systems², putting customers and staff in the dark. If your business is in that position, here are three key benefits of barcode-driven stock management to consider. 

Barcode-driven inventory management delivers real-time numbers 

Real-time stock management gives retailers a host of options that would otherwise be impossible. When every product item has a unique digital identifier encoded within the barcode, stock levels can be automatically adjusted every time a sale is made, and the identifying code is scanned throughout the process.

Visibility of this inventory database can be made accessible throughout the business, from people working on shop floors to warehouse pickers and head office. The customer interface will also know immediately whether a product is still in stock. The customers will also be able to see via a website or online portal how many, if any, items are left in stock.

This level of real-time inventory information available at every customer touchpoint is a fundamental enabler of omnichannel excellence and ensures customers have up-to-date information. It opens doors to new approaches that blend traditional and modern retail business models, one of those is BORIS.

Supercharge customer experience with BORIS

No, not the Prime Minister. The acronym stands for Buy Online Return In-Store.

Research compiled and cited by Invesp³ shows at least 30% of all products ordered online are returned, compared to less than 9% of in-store purchases. Meanwhile, 92% of consumers say they would buy from a retailer again if the returns process is easy to navigate, and 62% of shoppers are more likely to shop online if they can return in-store.

These new trends open up opportunities for retailers. Increased store footfall due to increased returns has the potential for additional sales, and devising a necessary process for in-store online returns can drive up efficiency. Again, barcode-driven inventory management can provide the solution.

Ideally, the returned product could be re-sold in-store, but both the item and its packaging need to be inspected first to ensure that product quality has not been compromised. This can take place in-store or at the warehouse, and either way, it can be tracked.

Barcode-drive inventory management can also enable customer visibility to track and trace a return, especially if they are waiting for a refund. An essential function when some 30% of consumers surveyed by international eCommerce solutions provider Doddle⁴ said they would not shop with a retailer again if they could not track a return.

End customers delivery anxiety with online order tracking

Consumers like to know what’s happening when they order something online. They may be excited, impatient or simply anxious that a gift turns up in time. Barcode-driven inventory management can offer full order tracking, which can add hugely to their customer experience.

And it could even prevent them from canceling an order. Rightly and wrongly, many consumers experience “delivery anxiety” if they don’t know the status of their order. Retailers must do all they can to mitigate this.

To enable online order tracking, systems must be in place to identify each product, using a barcode that travels with the product throughout its journey. This barcode will then trigger communications to notify customers of progress each time the barcode is scanned. From picking and packing right through to delivery, and beyond that, if the product is returned, refunded or replaced.

This is great for the consumer: they know exactly what’s going on, and instead of anxiety, they can enjoy a feeling of growing anticipation. It also means that consumers don’t need to bombard the call centre with enquiries about their order or refund status.

Invest in technology for future growth      

Ultimately if the experience is seamless, customers are more likely to return, and your brand will reap the benefits with better reviews than your competition. You might have some temporary systems in place to keep up with demand now, but in the long run, you can build a resilient basis for future growth by investing in barcode-driven inventory management in 2022.

Discover more about Ricoh’s partnership with Zebra and how we can offer a solution to power barcode-driven inventory management.

1. https://www.eversheds-sutherland.com/global/en/what/industries/consumer-law/evolution-of-stores-retail-report.page

2. https://www.tltsolicitors.com/insights-and-events/publications/retail-agility—the-digital-imperative/

3. https://www.invespcro.com/blog/ecommerce-product-return-rate-statistics/

4. https://www.doddle.com/us/the-returns-experience-is-critical/

The post 3 reasons retailers need to invest in barcode-driven inventory management right now appeared first on Insights - Empowering Digital Workplaces.

It isn’t news to anyone that climate change is at the top of the global agenda, and will continue to be for the foreseeable future. Increasingly, it will have dramatic effects on customer demand. Not just from their government, but from brands, suppliers and each other.

You’d be forgiven for thinking that this would create a problem for the print industry. In reality, it presents a fantastic opportunity for leading print businesses to converge innovation with future digital print technology, applications and partnerships to deliver a premium service that meets the priorities of today’s society.

The performances of different companies or sectors are diverging. Those who can and have adapted are arching upwards, those unable or unwilling to adapt are trending down. This article will help make sure your digital print business is on the up.

What do your customers demand from digital print?

Customer demands are the cause of this divergence. Certainly online purchasing has accelerated over the past two years, and to a very large degree, won’t return to what we consider normal. Digital printers must build a stronger online capability and back it up with automated processes to be able to thrive. 

Customers demand less plastic, less gloss, and more of a rustic, natural look and feel. In print, we are seeing this manifest itself in the increased use of uncoated papers for general marketing collateral – such as brochures and catalogues. 

Printers and agencies are telling us this is happening. Secondly, paper manufacturers confirm the growth in uncoated paper usage too, causing them to adapt their own operations to produce the required natural grades.

How is the digital print industry adapting to change?

The print industry has always pointed to digital print and on-demand as a great counterpoint to the environmental pressure our industry is facing. Today, there is the capability and technology to do smaller and more targeted runs, so there is less waste. As a result still being effective at reaching the right customers with the right message.

The development of hyper-local print markets takes the argument even further, augmenting the carbon-countering message. Platforms such as Gelato and Printify offer an example of digital technology, allied to the convenience of online purchasing. This now means a product designed in one part of the world, printed and delivered to a customer in another, the same or next day. 

These trends and capabilities send a strong signal about the need for digital printers to think about sustainability as they shape their service propositions in the post-pandemic world.

Listen to Ricoh’s Anything in Print podcast with Gelato

How is the future of digital print enabled by technology?

Printers can get great results on the more sustainable paper stocks your customers demand, thanks to the print engine improvements that different vendors have achieved. For example, Ricoh’s Pro C9200 digital press includes a matt fuser option that allows users to produce offset-like quality on uncoated papers – delivering a premium finish while being more environmentally friendly.

Alongside this advance on the Ricoh Pro C9200 is a feature called Auto Colour Diagnosis (ACD). It controls colour stability and image quality to reduce production errors and ensure customer satisfaction, which ultimately reduces waste. All strong factors in the approval of the on-demand, online print market, as well as improving environmental performance.

Work with a people-first partner to ensure best practices and results.

Customer demands have always varied. But in today’s online and connected world, there’s no doubt that there’s an acceleration of change and expectations. Ricoh has years of experience at the cutting edge of print devices and developments. Specialising in working alongside your business to develop the right strategy for you, your people and your customers.

We can help you be more agile and find greater uptime and efficiency. In addition, lower costs, provide speedier ROI and make the most of your devices and services. Together, we can embrace new customer demands through innovation, insight and experience – and help your business thrive.

Article originally published in Printweek September 20th 2021.

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